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The European Investment Bank (EIB) Group, the European Commission, and the International Finance Corporation (IFC) have revealed a significant financial collaboration aimed at assisting Biovac in establishing Africa’s first comprehensive multi-vaccine production plant in South Africa.

The initiative focuses on enhancing Africa’s health security, increasing the production of vaccines within the region, and boosting availability of critical immunizations.

It is supported by a €75 million quasi-equity investment from the EIB Group, which has also facilitated the acquisition of an extra $20 million senior loan via an IFC-led financial arrangement, with more funding being secured at this time.

The funding is backed by a European Commission guarantee through the Human Development Accelerator initiative, which is included in the European Union’s Global Gateway strategy.

It also supports the Team Europe program focused on Manufacturing and Access to Vaccines, Medicines, and Health Technologies in Africa.

The upcoming facility, set to be finished by 2028, will first produce oral cholera vaccines and later increase its output to include immunizations for polio, pneumonia, and meningitis.

After becoming operational, the facility is anticipated to generate between 30 million and 40 million doses each year.

Biovac’s Chief Executive Officer, Morena Makhoana, stated that the new facility will ensure a stable vaccine supply for Africa, while developing expertise, increasing technology sharing, and promoting vaccine development.

The partners stated that the facility could help bridge approximately 40% of the worldwide cholera vaccine supply gap, while providing regional markets via procurement channels like UNICEF and Gavi, the Vaccine Alliance.

The initiative is also anticipated to generate over 340 skilled positions and approximately 7,000 indirect jobs, while encouraging technology exchange, innovation, and sustained health resilience throughout the continent.

The president of the European Investment Bank, Nadia Calviño, stated that the initiative would aid in saving lives by safeguarding millions of children from severe illnesses and empowering African scientists and healthcare professionals to assist their own communities.

European Commissioner for International Partnerships Jozef Síkela characterized the investment as a demonstration of the Global Gateway initiative in practice, merging health security with economic growth.

The IFC Regional Vice President for Africa, Tafara, stated that developing local manufacturing capabilities is a key development goal and a crucial step toward building resilience.

The program also backs the African Union’s Vision 2040 goal of attaining 60% domestic vaccine manufacturing and corresponds with various United Nations Sustainable Development Goals, such as health, economic development, industry, and collaborations. –SAnews.gov.za

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